Jumping into Economic Slavery

Do you get the feeling we are being
railroaded, tricked, and deceived
into rapid approval of this $700 billion bailout?

Take a closer look at some of the wording:

“Decisions by the Secretary pursuant to the
authority of this Act are non-reviewable and committed to agency discretion, and
may not be reviewed by any court of law or any administrative agency.”

Thanks, and Tip-O-the Hat to the Lance Turner blog
for that little gem. Doesn’t it sound eerily similar to the Patriot Act, which
gutted our privacy and civil rights? This new bill would create a form or

Economic Slavery.


http://lanceturner.wordpress.com/2008/09/22/quote-of-the-day-non-reviewable-and-committed-to-agency-discretion/

I just hope that Obama will be elected, and raise taxes on these thieves, so at least we will get some of our money back. Obama promises tax relief for the middle class,
and to raise taxes for those making over $250,000 a year. Now if he added even higher taxes for the $1 million-plus crowd, then wouldn’t that be
Karmic Justice?

Debtor's Prison

Debtor Prison

~ by christianliberal on September 22, 2008.

8 Responses to “Jumping into Economic Slavery”

  1. Poor misguided liberal Christian, the bailout saves your money, your investments, your retirement account. The thieves who drove these companies into the ground will still try and get away. And yes, that includes your beloved Obama (and Dodd, and Clinton, and Pelosi). Stop reacting with ignorant emotionalism and do some research!

  2. Yeah, saves SOME of my investments with MORE of my own money.
    At that rate, I’ll be broke twice as fast.
    Well, the neo-cons had their chance.
    They brought us more war, more dept, disrespect at home and abroad.

    Time for a change. Change we can believe in.

    With any luck, all the old war dogs can roast marshmallows at the Crawford Ranch with Bush and his cronies, and shoot little birds for “sport.” Or go visit them in federal prison.

  3. Hi, the bailout (and other bailouts) will be necessary to keep the system working, because a breakdown of the system may cost us more than the bailout of the system may cost. But that doesn’t mean we like it. I want the system to keep working, I don’t care how many individual institutions fail in the process, and I don’t care how much ownership transfers from private to public hands. I want to save the system, not the individuals. I have been writing more about this at my blog, samdoc.wordpress.com

    I don’t trust that the workouts are the best or most efficient way to keep the system going. But it seems painfully obvious that doing nothing is not an option.

  4. I agree with you Sam, and that is why there is so much steam to let off. With even a LITTLE better planning would could have avoided a lot of the current pain.
    This only confirms my impression of Bush as the worst (p)resident of all time, because even he wouldn’t make the crisis peak just before the election.

  5. AS I’ve said on my blog – I don’t believe in much regulation, but we need some framework. And what isn’t regulated (just a little bit) will need rescuing.

    Its easy to figure what should have been done after the fact. The challenge in doing it right before the fact is two fold –

    First – The US encourages homeownership, and second, you cannot legislate intelligence on the lender’s part.

    Please check my post here:
    http://samdoc.wordpress.com/2008/09/23/can-we-know-what-regulations-were-appropriate-pre-credit-crisis/

    I do think things were overly lax. But I’m not sure just where the legislation should have come in.

    You can regulate disclosure. You cannot regulate intelligent responses to that disclosure.

  6. I agree entirely with the sense that this so called bailout is being rammed into congress with such desperate and fearful language that they (the Treasury) are making it seem unavoidable.
    With some luck the growing reluctance by many in the congress to rubber stamp this deal will mushroom into real resistance and restraint.

    If the government has to do something to save the economy let it be limited, careful and watched like a hawk. Handing over a trillion dollar blank check should not be an option.

    That being said raising taxes on ANYONE is no answer either. Historically it has never worked as a positive for the economy. Since when was it the task of government to take wealth from someone and give it to someone else? Say no to socialism!

  7. Taxing people (raising taxes) to bail out Wall Street is only slightly removed from borrowing the money and forcing taxpayers to pay for it in the future. Same thing. SO where are the real Republicans on this? Get that moron Bush out of office, QUICK!

    The Bush/Cheney and Reagan doctrine took the idea of deregulation so far that it came around full circle to socialism. If they had allowed moderate, common sense regulation of lending practices of banks we could have avoided this mess. But they were so far extremist right wing, let-money-rule everything, that they shot themselves in the foot. Their incompetence is embarrassing.

    Our only hope is that we run the bums out of town and vote Democratic for the next 100 years. The GOP FAILED!

  8. remember how the 2000 election fiasco was rushed? or how the patriot act was rushed? or the authorization for military action against iraq was rushed? see a pattern yet, or am i rushing you?

    look, it took years for this to build, and it ain’t getting solved in a couple of weeks. seems to me no one can actually say what any of this will cost, how long it will last, or much else for that matter.

    all we do know is that a) an unregulated society is anarchy and b) giving full power to paulson is totalitarianism. beyond that we are all pissing in the wind.

    our elected officials need to sit down and figure this mess out. and as for the rest of us, we need to pay attention because come november 4th there may be some folks that need to loose their jobs. i am curious to see what if anything bush has to say tonite. regardless of how pathetic he is, he is still the president. he can take the time to explain this to we the people or he can cover his and his cronies butts.

    see you in a few hours when we know….

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